3-Unit
New
For Sale
$849,000
532 Main Street, South Portland, ME 04106
MULTI_FAMILY - South Portland, ME
Property Size2,832 SF
Lot Size0.13 Acres
Price / SF$299.79
Days on Market3
Property Features for 532 Main Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
MSCC
Bathrooms
3
Full bathrooms
3
Rooms
Basement, Bathroom 2, Bathroom 1, Bathroom 3
Basement
Unfinished, Full
Lot features
Open, Sidewalks, Near Town, Neighborhood
Standard status
Active
Size
2,832 SF
Lot size
0.13 Acres
Taxes and HOA fees
Tax Year
2026
Tax Annual Amount
8252
Utilities
Sewer type
Public Sewer
Heating system
Electric (Heating), Baseboard, Natural Gas, Hot Water(Heating)
Water source
Public
Building Details
Year built
1910
Number of units
3
Flooring type
Carpet, Wood
Building materials
Wood Frame, Vinyl Siding
Roof type
Shingle
Listing Agency:
Verrill Real Estate, Inc
(207) 756-0649
Listed By:
Philip Verrill
(207) 756-0649
Added: Aug 3
Changed: Aug 4
Last Checked: Aug 5 at 11:06PM
MLS# 1674586
Copyright © 2026 Maine Listings. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
Located at 532 Main Street in South Portland, this triplex contains three residential units with a combined 2,832 square feet, six bedrooms, and three bathrooms. The property was built in 1910 and features wood-frame construction with vinyl siding, shingle roofing, carpet and wood flooring, and basement space. Heating systems include hot water, baseboard, electric, and natural gas.
The 0.13-acre property is served by public water and public sewer and is identified with MSCC zoning. All three units are currently rented, supporting continued residential income use. The configuration also accommodates an owner-occupied approach, as stated in the property information.
The 0.13-acre property is served by public water and public sewer and is identified with MSCC zoning. All three units are currently rented, supporting continued residential income use. The configuration also accommodates an owner-occupied approach, as stated in the property information.
Key Highlights
- Three‑unit property with 6 bedrooms and 3 baths
- 2,832 square feet on a 0.13‑acre lot
- Fully rented residential asset
Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $76.5k | $27.00 |
| − Vacancy | −$5.0k | −$1.76 |
| EGI | $71.5k | $25.25 |
| − OpEx | −$21.4k | −$7.57 |
| NOI | $50.0k | $17.67 |
2,832 SF · lease $27.00/SF/yr · vacancy 6.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$714.9K
$625.6K – $834.1K
NOI $50,046 @ 7.0% cap · market cap 5.89%
Second Best
Apartment 5plus
$665.1K
$582.0K – $776.0K
NOI $46,560 @ 7.0% cap · market cap 5.48%
Theoretical Best
Office A
$778.4K
$681.1K – $908.1K
NOI $54,486 @ 7.0% cap · market cap 6.42%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
430
Businesses Nearby
Explore this area
Business Placement
Demographics for 04106, ME
26,641
Population
12,849
Households
2.1
Avg Household Size
41
Median Age
49%
College-Educated
95%
High-School Grad
12.2 sq mi
ZIP Area
2,184
Density / Sq Mi
$83,744
Median Household Income
$47,818
Median Earnings
$1,642
Median Rent
$403,500
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Triplex - Fully rented residential property with public utilities, wood-frame construction, and natural-gas heating.
Where is this triplex located?
The property is located at 532 Main Street South Portland, ME.
What is the asking price?
The asking price for this property is $849,000.
What are key features of this property?
This property features: Three‑unit property with 6 bedrooms and 3 baths; 2,832 square feet on a 0.13‑acre lot; Fully rented residential asset
